Senator Stabenow Statement on Proposed Cuts to Michigan Retiree Pensions

U.S. Senator Debbie Stabenow today issued the following statement regarding news of the Central States Pension Fund's proposed cuts to the pensions of thousands of Michigan retirees.

"A pension is a promise that's earned and workers should be able to count on it when they retire. I am deeply concerned by news of possible cuts to the pensions of thousands of Michigan retirees who worked hard their entire lives. There is no question that pension funds are facing serious challenges due to the Wall Street financial crisis and other factors that are not the fault of the workers or retirees. Congress should take action to stop these potential cuts and make the long-term protection of pensions a top priority. That is why I am cosponsoring S.1631, the Keep our Pension Promises Act, to prevent the proposed cuts to workers' earned pension benefits by closing tax loopholes for special interests. I urge its immediate passage."